And the moment of truth is out and the situation is not too bad actually from forecast.
Kim Teck Cheong’s 34m new shares offered to public oversubscribedKUALA LUMPUR: Kim Teck Cheong Consolidated Bhd’s (KTC) offer of 34 million new shares to the public at 15 sen each under its initial public offer was
oversubscribed by 45.66 times.
The Sabah-based consumer package goods producer and distributor said on Monday there were 13,867 applications for 1.586 billion new shares with a value of RM237.97mil from the Malaysian public. It said the
over-subscription rate of 45.66 times was the highest rate for the public category of an initial public offering for 2015 to date.
KTC said of the 34 million new shares, half were set aside for under the Bumiputera category and the remainder for the public. There were
7,054 applications for 731.814 million new shares under the Bumiputera category, which was over-subscription of 42.05 times while under the
public category, there were 6,813 applications for 854.686 million new shares which was an over-subscription of 49.28 times.
The flotation exercise involved the issuance of 142 million new shares -- or 27.83% of its share capital at 15 sen apiece -- where 34 million new shares were offered to the public, 16.255 million to eligible employees and 91.745 million shares were placed out to selected investors.
All notices of allotment for the IPO shares would be mailed to successful applicants on or before Nov 23. The shares will be listed on the ACE Market on Nov 25. RHB Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent
KTC’s core business focuses on providing market access and coverage of consumer package goods including food and beverage products, personal care products, household products, baby care products, over-the-counter drugs and health supplements.
KTC had also developed its own in-house brands namely Orie, Bamble and Creamos, which manufactures and distributes frozen and dry goods and bakery products across Sabah and Sarawak.
Source:
http://www.thestar.com.my/Business/Busines...ibed/?style=bizThis post has been edited by ILoveLalat.net: Nov 16 2015, 03:21 PM